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Calculate the times interest earned ratio

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Reference no: EM133053507

Question - Shown below is condensed financial information for Sweetwater Industries.

 

December 31, 2022

December 31, 2021

Total assets

$413,000

$397,000

Total liabilities

237,888

215,968

Interest expense

28,200

18,300

Income tax expense

100,000

94,000

Net income

307,920

291,400

Required -

A) Calculate the debt to total assets ratio for 2021 and 2022.

B) Calculate the times interest earned ratio for 2021 and 2022.

Reference no: EM133053507

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